French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. French IT company, struggling to survive, reported on Thursday a 4.4% drop in organic revenue for the third quarter. It blamed softer market conditions but also said that it saw an improvement in order entry. Bic, a French pencil maker, has raised its outlook for margins in light of Q3 results. In light of Q3 results, the company upgraded its outlook for organic revenue growth in full-year.
French and Benelux stocks: Factors to watch
Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. The largest food retailer in Europe has maintained its financial targets for 2024. The French luxury goods group warned that its operating income for the full year would almost halve following a steeper-than-expected decline in sales during the third quarter. Sales of French tyre makers in the third quarter fell by 4.2%. This was slightly below market expectations because of weaker demand.
LNG: France Gets Its First LNG Bunker Vessel, Gas Vitality
The first LNG bunker vessel to be based in France has been named Gas Vitality at a ceremony held today at Hudong-Zhonghua Shipbuilding, China.The 18,600-m³ newbuild bunker vessel is TotalEnergies Marine Fuels’ second collaboration with Mitsui O.S.K. Lines, Ltd (MOL) and shipbuilder, Hudong-Zhonghua Shipbuilding following the signing of a long-term charter contract in November 2019. All three parties first collaborated in 2018 to successfully design and build her sistership…
Inside the Red-Hot Offshore Wind Energy Market
As the traditional offshore oil and gas markets continue to struggle, the renewable offshore wind market is hot and getting hotter.As the cumulative maritime, offshore, port and logistics marketplace gears up for offshore wind energy on a huge scale, World Energy Reports (WER), in its report “2021 The Year When Offshore Wind Takes Off in the United States,” shows the anticipated growth trajectory. Service Operations Vessels (SOVs), which can commission and/or maintain turbines…
BV Appoves Cryo-Powered Regas System Design
Bureau Veritas Marine & Offshore (BV) has issued the first approval in principle for a new cold energy ‘Cryo-Powered’ regas system for use in FSRU applications.The approval has been issued to both Mitsui O.S.K. Lines, Ltd. (MOL) and Daewoo Shipbuilding & Marine Engineering Co., Ltd (DSME). The ‘Cryo-Powered Regas’ system is a cold power generation technology based on the Organic Rankine Cycle - a proven technology used in multiple onshore LNG…
Coronavirus Spurs Oil Majors to Cancel IP Week Events
The list of parties at London's International Petroleum Week, one of the world's biggest oil industry gatherings, continues to shrink as hosts such as ExxonMobil and Azerbaijan's SOCAR cancel events due to the coronavirus, trading sources said. IP Week is a key oil traders' gathering that takes place every year in February. This year, it is scheduled for Feb. 24-27. Oil majors, national oil companies and trading firms host receptions for networking throughout the week.
BV Joins the Int'l Windship Association
The decarbonization drive is gearing up to be the defining issue faced by the shipping sector in the coming decades and the industry is searching for low carbon and zero emissions technologies that will deliver on the International Maritime Organization (IMO) initial strategy of reducing emissions by at least 50% by 2050. One family of technologies that is seeing an upsurge of interest in the industry is wind-assist and primary wind propulsion solutions.
GMM Project Shortlists Nine Ships
The Green Maritime Methanol (GMM) consortium announced that it has selected nine ships for research on the application of renewable methanol as a marine fuel.New designs, newbuildings as well as existing ships of Boskalis, Van Oord, the Royal Netherlands Navy and Wagenborg Shipping were selected.The vessel sizes vary in length from between 40 - 160 meter, with tonnage ranging from 300 - 23.000 dwt and in installed power from 1 - 12 MW. Research…
DNV GL Hires Energy, Utilities Managers
DNV GL announced on Friday it has added two new key account managers for Energy North America. Elizabeth Kaiga will work with a wide range of accounts that include utilities, renewable developers, financial organizations and large corporations, all with a focus on renewable energy, while John Costello will focus on the utility industry in the U.S.“Elizabeth and John will lead account teams to expand and strengthen relationships with customers and enhance the services that DNV GL is delivering…
Rebuilding Confidence in Reactivated DP Assets
The offshore energy sector, like any industry, is constantly subject to market cycles. Challenging conditions may lower demand, resulting in a significant number of resources such as offshore support vessels (OSVs) and drillships being deactivated for potentially extended periods. Over time, however, cycles reverse and demand increases for these same assets.Operators reduced expenditures on offshore exploration and production activities, with a subsequent lower demand for these offshore assets…
The 'Digital Twin' Evolution for Offshore Wind
Testing, inspection and certification services provider Bureau Veritas said it has partnered with Offshore Renewable Energy (ORE) Catapult in an effort to jointly develop a Veristar AIM 3D “Digital Twin” of ORE Catapult’s 7MW Levenmouth Offshore Wind Demonstration Turbine in Fife, Scotland.So-called Digital Twins can improve the operations and maintenance of offshore wind farms by combining real-world turbine operating data with numerical modelling to improve understanding and enable a risk-based approach to maintenance activities…
IAPH Audit Tool for Safe, Sustainable LNG Bunkering
International players in the shipping sector - International Association of Ports and Harbors (IAPH), Titan LNG, Bureau Veritas, large oil and gas companies such as Shell and ship owners such as NYK and Carnival Corporation - developed a tool for making LNG bunkering safe and sustainable."The tool ensures that the responsibilities of bunker facilities operators (BFOs) relating to safe and sustainable business operations are clearly demarcated and that there is a careful examination of how the LNG bunker operations are set up…
Bureau Veritas Issues New FSRU Guidelines
Bureau Veritas has issued new and updated notations and guidance to support the construction and operation of both Floating Storage and Regasification Units (FSRUs) and Floating Storage Units (FSUs).Interest in FSRUs and FSUs is growing as floating gas terminals offer operational flexibility, reduced timescales, from concept to operation, and cost effectiveness in comparison with onshore terminals. Additionally, converting existing liquefied natural gas (LNG) carriers offers a fast route to operational availability.
BV to support North Sea drilling operation
Bureau Veritas has been awarded a six-figure contract to support drilling operations in the North Sea. The long-term frame agreementwill see Bureau Veritas provide inspection and verification services for nine rigs,with the project co-ordinated out of Bureau Veritas’s Aberdeen base. The contract follows a successful 2017 for Bureau Veritas’s North Sea Offshore Operations, after it secured contracts worth more than £10 million. Paul Shrieve, Regional CEO…
Wison Signs MOU for Medium Large Floating LNG Power Solution
Wison Offshore & Marine has signed a Memorandum of Understanding (“MOU”) on strategic cooperation with Shanghai Electric Power Generation Group. Two parties will join their efforts in medium to large-scale floating LNG power generation barge, with regards to its product development, global marketing and technical services. Such collaboration aims to promote the commercialization of this new electrification solution while opening up a series of further cooperation in power sector between Wison and Shanghai Electric.
Deal for Floating LNG Powerplant in China
As the proliferation of LNG use spreads rapidly in the maritime and energy sectors, word from China is that Wison Offshore & Marine has signed an MoU with Shanghai Electric Power Generation Group, on a joint effrot to develop medium to large-scale floating LNG power generation barges. Wison brings a wealth of experience and integration capability in floating LNG facilities, while Shanghai Electric is a leader in core gas power equipment and EPC services for international power projects.
Bureau Veritas Issues New Rules for OSVs, Tugs
Classification society Bureau Veritas has issued new rules for the Classification of Offshore Service Vessels and Tugs, including new class notations for pipelay vessels, accommodation units, offshore construction vessels and offshore support vessels. Gijsbert de Jong, Bureau Veritas Marine Marketing and Sales Director, said: “With this new publication Bureau Veritas provides the industry with a clear framework for the classification of offshore…
Vesconite Introduces Thicker Plate Stock
Whether a simple wear plate or machined into a complex, multi-faceted shape, many projects call for a material of substantial thickness. Vesconite and Vesconite Hilube plate stock is now available in sizes up to 4" thick. The plates are available up to 8" wide and 10' long. Because stock can be ordered close-to-size, machining time and costs are reduced. Vesconite and Vesconite Hilube are self-lubricating and have no stick-slip, so grease is unneeded.
Wison Granted AIP for Its Innovative Floating LNG Storage
Wison Offshore & Marine announced that it has received Approval in Principle (AIP) from Bureau Veritas for its newly-developed large-scale Floating LNG Storage and Regasification Terminal. Featuring scalable storage capacity up to equivalent size of a Q-Max, this is the first large-scale FSRU barge design that has been granted AIP by a classification society. It also marks that Wison is now capable of providing comprehensive range of FSRU solutions catering LNG import markets with various scales of demand.
Aquaterra Wins North Sea Contract
Aquaterra Energy won a contract to supply subsea high pressure riser (HPR) equipment and services for a subsea abandonment project in the central North Sea. The multi-million dollar deal will see Aquaterra facilitate the abandonment of ten subsea wells via deployment of a subsea HPR system from a jack-up rig. The scope of work could be extended to include two further subsea wells bringing the total number of abandonments to 12. Riser analysis was completed in-house by Aquaterra and validated by Bureau Veritas.
